Question

Find the compound interest on rs6500 for two years at 9% per annum

Answer 1

Hope this helps you!!!

Answer 2

Principal, P = ₹ 6500
Time, T = 2 years
Rate of Interest, R = 9% p.a. compounded annually

Amount = P ( 1 + R/100 ) ^ T
A = 6500 ( 1 + 9/100 ) ^ 2
A = 6500 ( 109 / 100 ) ^ 2
A = 6500 * 109/100 * 109/100
A = 6500 * 1.09 * 1.09
A = 65 * 109 * 1.09
A = ₹ 7722.65
Amount = ₹ 7722.65

Therefore,

Compound Interest = A - P
CI = ₹ 7722.65 - ₹ 6500
CI = ₹ 1222.65
Compound Interest = ₹ 1222.65